October 14, 2015|Categories: More Disruption Please
As our More Disruption Please (MDP) Accelerator program continues to grow and expand to our Austin and San Francisco offices, we wanted to give the health care community an opportunity to meet the startups joining this exciting program. – Michelle Mangino, Blog Editorial Manager
Company Name: CredSimple
Funding status: Series Seed
Number of employees: 10What frustrates you most about the current state of health care?
The inefficiencies in provider data management practices both frustrate and excite me. In their current state, these inefficiencies end up raising the cost of healthcare significantly. We spend $361 billion on healthcare administration every year! This, however, is also exciting because it represents an opportunity to offer solutions to real problems that people and companies struggle with every day.What does your company do?
CredSimple enables healthcare organizations of all sizes to manage their provider data in one secure place. It’s really that simple (pun intended). We’ve created a platform that manages provider credentials, rosters, addresses, locations, directories, specialties and compliance monitoring in one place. Our platform enables healthcare organizations to credential providers and facilities in a matter of a few clicks and maintain the data quality and freshness over time.How does your solution address a key pain point for health care providers?
Almost every provider I’ve ever spoken with has one or more credentialing horror story. For example, I recently spoke to a doctor who had to fill out a one-hundred-page credentialing application that took more than four hours to complete, and then she faced a three-month waiting period – that’s 90 days of not being able to practice and not getting a paycheck.
In many cases, we’re able to help our clients reduce turnaround time for credentialing from months to a few days. Through our tech-enabled-services, CredSimple reduces the administrative burden for providers and adds incredible value to the organization so that the data that comes out of the credentialing department has a positive impact to operations across the organization.What makes CredSimple different? What’s your competitive advantage?
Providers are a healthcare company’s most valuable asset, but managing their credentials, rosters, addresses, locations, directories, specialties and compliance each pose a unique problem. Healthcare organizations are asking their providers the same questions again and again, still manually entering data, and still manually cross-referencing spreadsheets. Most of the legacy software systems in this space don't solve the real problem of data quality. CredSimple gives healthcare organizations what they need – a simple way to keep the credentialing and re-credentialing processes running and the data organized and accurate, making it easy for our clients.Why did you join the athenahealth MDP Accelerator?
There were two reasons we liked the MDP Accelerator: First, athenahealth has an impressive amount of expertise re-engineering inefficient healthcare processes, and we wanted our company to have access to and benefit from this. Second, athenahealth is in a unique position to help move the needle on credentialing and enrollment for their client base. We’re working together to implement innovative solutions to these problems.What’s next for CredSimple?
Growth. Our client list and our team are growing every month. We are thrilled to have some of the leading brands in healthcare adopting our services as well as the continued momentum to attract incredibly talented people to build CredSimple into an exceptional company.What advice would you give to aspiring entrepreneurs looking to break into healthcare?
First, I think it’s very important to get experience working in organizations that are excellent and running at scale. It’s crucial to have an understanding of what success looks like, so that you know what you are working towards when you’re building your own company. Second, opportunities are often hiding right in front of us – but you not only have to see them, you have to decide to act upon them. Keep your eyes open and your feet ready to jump.